China to become top source of new cars in Australia, fuelled by emissions regs
The Australian Automotive Dealer Association (AADA) commissioned the Centre for International Economics (CIE) to analyse Australia's past, current and future automotive trading partners.
The CIE has projected Chinese-built vehicles will account for 43 per cent of Australia's new-car market in 2035, up from 17 per cent this year.
This will come at the expense of Japanese-built cars, whose share is projected to drop from 32 to 22 per cent, as well as Thai-built vehicles (11 per cent, down from 21 per cent) and Korean-built vehicles (8 per cent, down from 13 per cent).
The CIE forecasts other countries of origin will account for the remaining 16 per cent of the market, down from 17 per cent in 2025.
CarExpert can save you thousands on a new car. Click here to get a great deal.
China already dominates the local electric vehicle (EV) market, accounting for 65 per cent of imports. But it's not just EVs powering its growth here, with exports of combustion-powered vehicles also rising.
Enabling China's rise, the report says, is the Chinese government's investment and support in developing EV and plug-in hybrid (PHEV) technology and manufacturing capabilities; an ongoing drop in production costs; as well as an aversion to price increases like those imposed by brands from other countries.
But the AADA warns the Australian Government is inadvertently boosting sales of Chinese cars in our market through its New Vehicle Efficiency Standard (NVES).
'While overall sales from many countries are still projected to grow, China stands out and is set to benefit the most from the introduction of the NVES,' the AADA says in its report.
'Its strong position in EV manufacturing, supported by supply chain advantages and government backing, means vehicles produced in China are expected to gain market share at a faster rate, in contrast to the slower grow other exporting countries may observe.
'This low emissions transition highlights a broader structural shift. As emission standards tighten, supply chains globalise and EV technology dominates, China is set to play an increasingly central role in Australia's automotive future and redefine our automotive landscape.'
The AADA says in its report that the findings are based on an assumption NVES fleet emissions reductions will continue past the legislated 2029 target.
Coming into effect on January 1, 2025, with penalties being accrued from July 1, the NVES sets fleet-wide emissions targets for new-vehicle brands in Australia.
If automakers exceed an average carbon emissions target for the vehicles they sell each year, they will be penalised $100 per g/km of CO2 for every vehicle which exceeds the target.
For 2025, the mandate for passenger cars (Type 1) is 141g/km of CO2, with light commercial vehicles and heavy-duty SUVs (Type 2) set at 210g/km or less. These limits will get tighter every year, landing at 58 and 110g/km respectively in 2029.
Chinese auto brands have been among the quickest and most aggressive in rolling out EVs and PHEVs in our market to cater to buyer demand and also meet these emissions standards.
BYD only offers these powertrain types globally, while Chery, GWM and MG all offer a mix of hybrid, PHEV and EV models, and fledgling brands like Deepal and Xpeng are EV-only here.
It isn't just Chinese-owned brands, including Volvo and Polestar, that are selling Chinese-built vehicles here.
BMW, Cupra, Kia and Tesla all produce vehicles in China and export them to markets such as Australia, and they could be joined in the coming years by others such as Mazda and Nissan.
It has been a meteoric rise for China, and follows the rise of Thailand, Korea and Japan in our market.
There are parallels here beyond dramatic sales growth. Many of the first Korean and Japanese cars sold here were widely regarded as being flawed or ill-suited to our market, but manufacturers like Hyundai and Toyota were able to over time adapt to our market conditions and offer more suitable vehicles.
Chinese brands have invested in local vehicle development testing in our market, but GWM is perhaps a standout example of tailoring vehicles to Australian conditions, having appointed Holden's former lead vehicle dynamics engineer as its local ride and handling expert.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Advertiser
7 hours ago
- The Advertiser
Asia stocks end mostly higher on US rate cut hopes
Asian stocks mostly advanced on Thursday, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings, growing hopes for a ceasefire in Ukraine and expectations for US rate cuts boosted sentiment. Markets largely shook off US President Donald Trump's latest tariff volleys, including an additional 25 per cent tariff on US imports from India over purchases of Russian oil and a threatened 100 per cent duty on chips. "It's surprising that everything that gets thrown at the market that it just continues to melt-up," said Eddie Kennedy, head of bespoke discretionary fund management at Marlborough. Europe's STOXX 600 rose 0.5 per cent, with major indexes in Frankfurt and Paris up one per cent and 0.8 per cent, respectively. Britain's FTSE 100 was the outlier, dropping 0.3 per cent. In Asia, Japan's broad Topix index rose 0.7 per cent to a record closing high, with the more tech-focused Nikkei climbing 0.65 per cent. In China, stocks rose for a fourth straight day to close at a three-and-a-half year high as upbeat export data added fuel to the recent market rally. The Shanghai Composite index climbed 0.2 per cent 3,639.67, the highest such close since December 2021. The blue-chip CSI300 index was little changed. Hong Kong's Hang Seng index rose 0.69 per cent. Taiwan's stock benchmark surged as much as 2.6 per cent to a more than one-year peak. Shares in chipmaker TSMC, which this year announced additional investment in its US production facilities, soared 4.9 per cent to a record high. The KOSPI added 0.6 per cent, with South Korea's top trade envoy saying Samsung Electronics and SK Hynix would not be subject to 100 per cent tariffs. US S&P 500 futures rose 0.3 per cent. On Wednesday, the cash index climbed 0.7 per cent. "Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note. "However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." The US dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the US President's dovish views on monetary policy. Focus is centring on Trump's nomination to fill a coming vacancy on the Fed's Board of Governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The benchmark 10-year US Treasury yield was little changed at 4.2365 per cent. The two-year yield, which is more sensitive to changes in interest rate expectations, was up one basis point at 3.7134 per cent, close to a three-month low of 3.659 per cent touched on Monday. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, eased 0.2 per cent to 98.031, extending a 0.6 per cent drop from Wednesday. The euro added 0.2 per cent to $US1.1686, following the previous session's 0.7 per cent jump. Sterling rose 0.2 per cent to $US1.3378. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. In commodities, spot gold added 0.3 per cent to $US3,376 an ounce, after earlier hitting its highest level in two weeks. with DPA Asian stocks mostly advanced on Thursday, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings, growing hopes for a ceasefire in Ukraine and expectations for US rate cuts boosted sentiment. Markets largely shook off US President Donald Trump's latest tariff volleys, including an additional 25 per cent tariff on US imports from India over purchases of Russian oil and a threatened 100 per cent duty on chips. "It's surprising that everything that gets thrown at the market that it just continues to melt-up," said Eddie Kennedy, head of bespoke discretionary fund management at Marlborough. Europe's STOXX 600 rose 0.5 per cent, with major indexes in Frankfurt and Paris up one per cent and 0.8 per cent, respectively. Britain's FTSE 100 was the outlier, dropping 0.3 per cent. In Asia, Japan's broad Topix index rose 0.7 per cent to a record closing high, with the more tech-focused Nikkei climbing 0.65 per cent. In China, stocks rose for a fourth straight day to close at a three-and-a-half year high as upbeat export data added fuel to the recent market rally. The Shanghai Composite index climbed 0.2 per cent 3,639.67, the highest such close since December 2021. The blue-chip CSI300 index was little changed. Hong Kong's Hang Seng index rose 0.69 per cent. Taiwan's stock benchmark surged as much as 2.6 per cent to a more than one-year peak. Shares in chipmaker TSMC, which this year announced additional investment in its US production facilities, soared 4.9 per cent to a record high. The KOSPI added 0.6 per cent, with South Korea's top trade envoy saying Samsung Electronics and SK Hynix would not be subject to 100 per cent tariffs. US S&P 500 futures rose 0.3 per cent. On Wednesday, the cash index climbed 0.7 per cent. "Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note. "However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." The US dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the US President's dovish views on monetary policy. Focus is centring on Trump's nomination to fill a coming vacancy on the Fed's Board of Governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The benchmark 10-year US Treasury yield was little changed at 4.2365 per cent. The two-year yield, which is more sensitive to changes in interest rate expectations, was up one basis point at 3.7134 per cent, close to a three-month low of 3.659 per cent touched on Monday. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, eased 0.2 per cent to 98.031, extending a 0.6 per cent drop from Wednesday. The euro added 0.2 per cent to $US1.1686, following the previous session's 0.7 per cent jump. Sterling rose 0.2 per cent to $US1.3378. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. In commodities, spot gold added 0.3 per cent to $US3,376 an ounce, after earlier hitting its highest level in two weeks. with DPA Asian stocks mostly advanced on Thursday, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings, growing hopes for a ceasefire in Ukraine and expectations for US rate cuts boosted sentiment. Markets largely shook off US President Donald Trump's latest tariff volleys, including an additional 25 per cent tariff on US imports from India over purchases of Russian oil and a threatened 100 per cent duty on chips. "It's surprising that everything that gets thrown at the market that it just continues to melt-up," said Eddie Kennedy, head of bespoke discretionary fund management at Marlborough. Europe's STOXX 600 rose 0.5 per cent, with major indexes in Frankfurt and Paris up one per cent and 0.8 per cent, respectively. Britain's FTSE 100 was the outlier, dropping 0.3 per cent. In Asia, Japan's broad Topix index rose 0.7 per cent to a record closing high, with the more tech-focused Nikkei climbing 0.65 per cent. In China, stocks rose for a fourth straight day to close at a three-and-a-half year high as upbeat export data added fuel to the recent market rally. The Shanghai Composite index climbed 0.2 per cent 3,639.67, the highest such close since December 2021. The blue-chip CSI300 index was little changed. Hong Kong's Hang Seng index rose 0.69 per cent. Taiwan's stock benchmark surged as much as 2.6 per cent to a more than one-year peak. Shares in chipmaker TSMC, which this year announced additional investment in its US production facilities, soared 4.9 per cent to a record high. The KOSPI added 0.6 per cent, with South Korea's top trade envoy saying Samsung Electronics and SK Hynix would not be subject to 100 per cent tariffs. US S&P 500 futures rose 0.3 per cent. On Wednesday, the cash index climbed 0.7 per cent. "Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note. "However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." The US dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the US President's dovish views on monetary policy. Focus is centring on Trump's nomination to fill a coming vacancy on the Fed's Board of Governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The benchmark 10-year US Treasury yield was little changed at 4.2365 per cent. The two-year yield, which is more sensitive to changes in interest rate expectations, was up one basis point at 3.7134 per cent, close to a three-month low of 3.659 per cent touched on Monday. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, eased 0.2 per cent to 98.031, extending a 0.6 per cent drop from Wednesday. The euro added 0.2 per cent to $US1.1686, following the previous session's 0.7 per cent jump. Sterling rose 0.2 per cent to $US1.3378. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. In commodities, spot gold added 0.3 per cent to $US3,376 an ounce, after earlier hitting its highest level in two weeks. with DPA Asian stocks mostly advanced on Thursday, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings, growing hopes for a ceasefire in Ukraine and expectations for US rate cuts boosted sentiment. Markets largely shook off US President Donald Trump's latest tariff volleys, including an additional 25 per cent tariff on US imports from India over purchases of Russian oil and a threatened 100 per cent duty on chips. "It's surprising that everything that gets thrown at the market that it just continues to melt-up," said Eddie Kennedy, head of bespoke discretionary fund management at Marlborough. Europe's STOXX 600 rose 0.5 per cent, with major indexes in Frankfurt and Paris up one per cent and 0.8 per cent, respectively. Britain's FTSE 100 was the outlier, dropping 0.3 per cent. In Asia, Japan's broad Topix index rose 0.7 per cent to a record closing high, with the more tech-focused Nikkei climbing 0.65 per cent. In China, stocks rose for a fourth straight day to close at a three-and-a-half year high as upbeat export data added fuel to the recent market rally. The Shanghai Composite index climbed 0.2 per cent 3,639.67, the highest such close since December 2021. The blue-chip CSI300 index was little changed. Hong Kong's Hang Seng index rose 0.69 per cent. Taiwan's stock benchmark surged as much as 2.6 per cent to a more than one-year peak. Shares in chipmaker TSMC, which this year announced additional investment in its US production facilities, soared 4.9 per cent to a record high. The KOSPI added 0.6 per cent, with South Korea's top trade envoy saying Samsung Electronics and SK Hynix would not be subject to 100 per cent tariffs. US S&P 500 futures rose 0.3 per cent. On Wednesday, the cash index climbed 0.7 per cent. "Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note. "However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." The US dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the US President's dovish views on monetary policy. Focus is centring on Trump's nomination to fill a coming vacancy on the Fed's Board of Governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The benchmark 10-year US Treasury yield was little changed at 4.2365 per cent. The two-year yield, which is more sensitive to changes in interest rate expectations, was up one basis point at 3.7134 per cent, close to a three-month low of 3.659 per cent touched on Monday. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, eased 0.2 per cent to 98.031, extending a 0.6 per cent drop from Wednesday. The euro added 0.2 per cent to $US1.1686, following the previous session's 0.7 per cent jump. Sterling rose 0.2 per cent to $US1.3378. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. In commodities, spot gold added 0.3 per cent to $US3,376 an ounce, after earlier hitting its highest level in two weeks. with DPA
The Advertiser
11 hours ago
- The Advertiser
China's exports up 7.2 per cent amid US trade tensions
China's exports beat forecasts in July, as manufacturers made the most of a fragile tariff truce between Beijing and Washington to ship goods before tougher US duties targeting transhipments take effect. Global traders and investors are waiting to see whether the world's two largest economies can agree on a durable trade deal by August 12 or if global supply chains will again be upended by the return of import levies exceeding 100 per cent. US President Donald Trump has raised the prospect of further tariffs, including a 40 per cent duty on goods rerouted to the US via transit hubs, that took effect on Thursday, as well as a 100 per cent levy on chips and pharmaceutical products, and an additional 25 per cent tax on goods from countries that buy Russian oil. China's outbound shipments rose 7.2 per cent year-on-year in July, customs data showed on Thursday, beating a forecast 5.4 per cent increase in a Reuters poll of economists and accelerating from June's 5.8 per cent growth. China's trade war truce with the US - the world's top consumer market - ends next week, although Trump hinted further tariffs may come Beijing's way due to its continuing purchases of Russian hydrocarbons. Imports grew 4.1 per cent, defying economists' expectations for a 1.0 per cent fall and climbing from a 1.1 per cent rise in June, pointing to improving domestic demand as policymakers step up efforts to encourage households to boost spending. "The trade data suggests that the Southeast Asian markets play an ever more important role in US-China trade," said Xu Tianchen, senior economist at the Economist Intelligence Unit. "But it's not all about the transhipments that Trump seeks to stop, ASEAN countries are also importing raw materials and components from China before exporting finished products to the US," he added. China's exports to the US fell 21.67 per cent last month from a year earlier, the data showed, while shipments to ASEAN rose 16.59 per cent over the same period. Trump said on Tuesday the US was close to a trade deal with China and that he would meet his Chinese counterpart Xi Jinping before the end of the year if the world's two largest economies could come to an agreement. China's July trade surplus narrowed to $US98.24 billion ($A151.02 billion) from $US114.77 billion in June. Separate data from the US Commerce Department's Bureau of Economic Analysis on Tuesday showed the US trade gap with China shrank to its lowest in more than 21 years in June. Chinese government advisers are stepping up calls to make the household sector's contribution to broader economic growth a top priority at Beijing's upcoming five-year policy plan, as trade tensions and deflation threaten the outlook. And top leaders have vowed to step up regulation of aggressive price-cutting by Chinese companies that is pushing prices ever lower. But economists warn that reversing the current deflationary slump will be far more difficult than during the last round of supply-side reforms a decade ago, as the downturn now poses a broader threat to employment, which Chinese leaders have emphasised is a core component of social stability. Reaching an agreement with the United States - and with the European Union, which has accused China of producing and selling goods too cheaply - would give Chinese officials more room to advance their reform agenda. with DPA China's exports beat forecasts in July, as manufacturers made the most of a fragile tariff truce between Beijing and Washington to ship goods before tougher US duties targeting transhipments take effect. Global traders and investors are waiting to see whether the world's two largest economies can agree on a durable trade deal by August 12 or if global supply chains will again be upended by the return of import levies exceeding 100 per cent. US President Donald Trump has raised the prospect of further tariffs, including a 40 per cent duty on goods rerouted to the US via transit hubs, that took effect on Thursday, as well as a 100 per cent levy on chips and pharmaceutical products, and an additional 25 per cent tax on goods from countries that buy Russian oil. China's outbound shipments rose 7.2 per cent year-on-year in July, customs data showed on Thursday, beating a forecast 5.4 per cent increase in a Reuters poll of economists and accelerating from June's 5.8 per cent growth. China's trade war truce with the US - the world's top consumer market - ends next week, although Trump hinted further tariffs may come Beijing's way due to its continuing purchases of Russian hydrocarbons. Imports grew 4.1 per cent, defying economists' expectations for a 1.0 per cent fall and climbing from a 1.1 per cent rise in June, pointing to improving domestic demand as policymakers step up efforts to encourage households to boost spending. "The trade data suggests that the Southeast Asian markets play an ever more important role in US-China trade," said Xu Tianchen, senior economist at the Economist Intelligence Unit. "But it's not all about the transhipments that Trump seeks to stop, ASEAN countries are also importing raw materials and components from China before exporting finished products to the US," he added. China's exports to the US fell 21.67 per cent last month from a year earlier, the data showed, while shipments to ASEAN rose 16.59 per cent over the same period. Trump said on Tuesday the US was close to a trade deal with China and that he would meet his Chinese counterpart Xi Jinping before the end of the year if the world's two largest economies could come to an agreement. China's July trade surplus narrowed to $US98.24 billion ($A151.02 billion) from $US114.77 billion in June. Separate data from the US Commerce Department's Bureau of Economic Analysis on Tuesday showed the US trade gap with China shrank to its lowest in more than 21 years in June. Chinese government advisers are stepping up calls to make the household sector's contribution to broader economic growth a top priority at Beijing's upcoming five-year policy plan, as trade tensions and deflation threaten the outlook. And top leaders have vowed to step up regulation of aggressive price-cutting by Chinese companies that is pushing prices ever lower. But economists warn that reversing the current deflationary slump will be far more difficult than during the last round of supply-side reforms a decade ago, as the downturn now poses a broader threat to employment, which Chinese leaders have emphasised is a core component of social stability. Reaching an agreement with the United States - and with the European Union, which has accused China of producing and selling goods too cheaply - would give Chinese officials more room to advance their reform agenda. with DPA China's exports beat forecasts in July, as manufacturers made the most of a fragile tariff truce between Beijing and Washington to ship goods before tougher US duties targeting transhipments take effect. Global traders and investors are waiting to see whether the world's two largest economies can agree on a durable trade deal by August 12 or if global supply chains will again be upended by the return of import levies exceeding 100 per cent. US President Donald Trump has raised the prospect of further tariffs, including a 40 per cent duty on goods rerouted to the US via transit hubs, that took effect on Thursday, as well as a 100 per cent levy on chips and pharmaceutical products, and an additional 25 per cent tax on goods from countries that buy Russian oil. China's outbound shipments rose 7.2 per cent year-on-year in July, customs data showed on Thursday, beating a forecast 5.4 per cent increase in a Reuters poll of economists and accelerating from June's 5.8 per cent growth. China's trade war truce with the US - the world's top consumer market - ends next week, although Trump hinted further tariffs may come Beijing's way due to its continuing purchases of Russian hydrocarbons. Imports grew 4.1 per cent, defying economists' expectations for a 1.0 per cent fall and climbing from a 1.1 per cent rise in June, pointing to improving domestic demand as policymakers step up efforts to encourage households to boost spending. "The trade data suggests that the Southeast Asian markets play an ever more important role in US-China trade," said Xu Tianchen, senior economist at the Economist Intelligence Unit. "But it's not all about the transhipments that Trump seeks to stop, ASEAN countries are also importing raw materials and components from China before exporting finished products to the US," he added. China's exports to the US fell 21.67 per cent last month from a year earlier, the data showed, while shipments to ASEAN rose 16.59 per cent over the same period. Trump said on Tuesday the US was close to a trade deal with China and that he would meet his Chinese counterpart Xi Jinping before the end of the year if the world's two largest economies could come to an agreement. China's July trade surplus narrowed to $US98.24 billion ($A151.02 billion) from $US114.77 billion in June. Separate data from the US Commerce Department's Bureau of Economic Analysis on Tuesday showed the US trade gap with China shrank to its lowest in more than 21 years in June. Chinese government advisers are stepping up calls to make the household sector's contribution to broader economic growth a top priority at Beijing's upcoming five-year policy plan, as trade tensions and deflation threaten the outlook. And top leaders have vowed to step up regulation of aggressive price-cutting by Chinese companies that is pushing prices ever lower. But economists warn that reversing the current deflationary slump will be far more difficult than during the last round of supply-side reforms a decade ago, as the downturn now poses a broader threat to employment, which Chinese leaders have emphasised is a core component of social stability. Reaching an agreement with the United States - and with the European Union, which has accused China of producing and selling goods too cheaply - would give Chinese officials more room to advance their reform agenda. with DPA China's exports beat forecasts in July, as manufacturers made the most of a fragile tariff truce between Beijing and Washington to ship goods before tougher US duties targeting transhipments take effect. Global traders and investors are waiting to see whether the world's two largest economies can agree on a durable trade deal by August 12 or if global supply chains will again be upended by the return of import levies exceeding 100 per cent. US President Donald Trump has raised the prospect of further tariffs, including a 40 per cent duty on goods rerouted to the US via transit hubs, that took effect on Thursday, as well as a 100 per cent levy on chips and pharmaceutical products, and an additional 25 per cent tax on goods from countries that buy Russian oil. China's outbound shipments rose 7.2 per cent year-on-year in July, customs data showed on Thursday, beating a forecast 5.4 per cent increase in a Reuters poll of economists and accelerating from June's 5.8 per cent growth. China's trade war truce with the US - the world's top consumer market - ends next week, although Trump hinted further tariffs may come Beijing's way due to its continuing purchases of Russian hydrocarbons. Imports grew 4.1 per cent, defying economists' expectations for a 1.0 per cent fall and climbing from a 1.1 per cent rise in June, pointing to improving domestic demand as policymakers step up efforts to encourage households to boost spending. "The trade data suggests that the Southeast Asian markets play an ever more important role in US-China trade," said Xu Tianchen, senior economist at the Economist Intelligence Unit. "But it's not all about the transhipments that Trump seeks to stop, ASEAN countries are also importing raw materials and components from China before exporting finished products to the US," he added. China's exports to the US fell 21.67 per cent last month from a year earlier, the data showed, while shipments to ASEAN rose 16.59 per cent over the same period. Trump said on Tuesday the US was close to a trade deal with China and that he would meet his Chinese counterpart Xi Jinping before the end of the year if the world's two largest economies could come to an agreement. China's July trade surplus narrowed to $US98.24 billion ($A151.02 billion) from $US114.77 billion in June. Separate data from the US Commerce Department's Bureau of Economic Analysis on Tuesday showed the US trade gap with China shrank to its lowest in more than 21 years in June. Chinese government advisers are stepping up calls to make the household sector's contribution to broader economic growth a top priority at Beijing's upcoming five-year policy plan, as trade tensions and deflation threaten the outlook. And top leaders have vowed to step up regulation of aggressive price-cutting by Chinese companies that is pushing prices ever lower. But economists warn that reversing the current deflationary slump will be far more difficult than during the last round of supply-side reforms a decade ago, as the downturn now poses a broader threat to employment, which Chinese leaders have emphasised is a core component of social stability. Reaching an agreement with the United States - and with the European Union, which has accused China of producing and selling goods too cheaply - would give Chinese officials more room to advance their reform agenda. with DPA
The Advertiser
11 hours ago
- The Advertiser
2025 Isuzu D-Max and MU-X to gain new 2.2-litre turbo-diesel next month
It's official: the Isuzu D-Max and MU-X will be available with the Japanese brand's new turbocharged 2.2-litre four-cylinder diesel engine from late September, as confirmed by a media launch invite we received from Isuzu Ute Australia (IUA) today. As in Thailand, where both vehicles are produced for Australia, CarExpert understands the larger and higher-output turbo-diesel will replace the unloved 1.9-litre oil-burner as the entry-level engine in IUA's two diesel-powered models. And we expect the new 2.2-litre engine, which is claimed to consume about 10 per cent less fuel than the 1.9-litre engine it replaces, will soon also power entry-level versions of the D-Max's twin, the Mazda BT-50. CarExpert can save you thousands on a new Ford Ranger. Click here to get a great deal. Above: Thai-market D-Max 2.2. While Isuzu's big-bore 3.0-litre turbo-diesel will continue to be the flagship engine for the popular D-Max ute and MU-X large SUV (and the BT-50 ute) lineups, the new 2.2-litre engine will play a key role in reducing IUA's and Mazda Australia's exposure to emissions-related penalties under the New Vehicle Efficiency Standard (NVES). Given its higher outputs and improved efficiency, it's also likely to be more popular than the 1.9-litre engine, which made its local debut in the D-Max in 2022 before becoming available in the MU-X in 2024. We understand the 1.9-litre engine has attracted fewer than 100 sales annually in the D-Max, which was Australia's third most popular 4×4 ute in 2024 – behind only the Ford Ranger and Toyota HiLux – with more than 24,000 sales. Above: Thai-market MU-X 2.2. First revealed in November 2024, Isuzu's new 2.2-litre diesel was listed by IUA as one of a range of powertrains options it could employ to lower its fleet-average CO2 emissions. These include the battery-electric D-Max EV, which could top $100,000 based on UK pricing and is therefore expected to be a low-volume vehicle. At the other end of the scale, IUA is working on a hardcore Walkinshaw-developed Blade version of the MU-X, to join the D-Max Blade. Isuzu's new '2.2 Ddi Maxforce' engine (codenamed RZ4F) is based on and replaces the 1.9-litre RZ4E engine, which produces just 110kW of power and 350Nm of torque. Above: Thai-market D-Max 2.2. The new engine develops 120kW at 3600rpm and 400Nm over 1600-2400rpm, and is mated to an eight-speed automatic transmission (rather than a six-speed unit as per the 1.9- and 3.0-litre diesels), which Isuzu says brings improved performance and fuel economy. That's only 20kW and 50Nm less than the 140kW/450Nm '4J' 3.0-litre diesel that has long powered the D-Max and MU-X, and which will eventually be replaced by the new 2.2. A mild-hybrid (MHEV) version of the 1.9-litre, revealed earlier last year, will remain on sale in Thailand in a single rear-wheel drive pickup variant. This produces an identical 110kW and 350Nm to the regular 1.9-litre. It's unclear at this stage if the 2.2-litre (pictured above) will eventually gain a mild-hybrid system. While Isuzu hasn't published fuel consumption figures, it says fuel economy has been improved by up to 10 per cent over the outgoing 1.9-litre. According to Australian figures, D-Max variants with the 1.9-litre use between 6.7 and 7.0L/100km. The new 2.2-litre stacks up better against the entry-level four-cylinder turbo-diesels in the Ranger and HiLux. The base HiLux Workmate's 2.4-litre engine produces 110kW and 400Nm, while the Ranger's single-turbo 2.0-litre engine makes 125kW and 405Nm, and both of them are matched with a six-speed (rather than eight-speed) auto. MORE: Explore the Isuzu D-Max showroom MORE: Explore the Isuzu MU-X showroom Content originally sourced from: It's official: the Isuzu D-Max and MU-X will be available with the Japanese brand's new turbocharged 2.2-litre four-cylinder diesel engine from late September, as confirmed by a media launch invite we received from Isuzu Ute Australia (IUA) today. As in Thailand, where both vehicles are produced for Australia, CarExpert understands the larger and higher-output turbo-diesel will replace the unloved 1.9-litre oil-burner as the entry-level engine in IUA's two diesel-powered models. And we expect the new 2.2-litre engine, which is claimed to consume about 10 per cent less fuel than the 1.9-litre engine it replaces, will soon also power entry-level versions of the D-Max's twin, the Mazda BT-50. CarExpert can save you thousands on a new Ford Ranger. Click here to get a great deal. Above: Thai-market D-Max 2.2. While Isuzu's big-bore 3.0-litre turbo-diesel will continue to be the flagship engine for the popular D-Max ute and MU-X large SUV (and the BT-50 ute) lineups, the new 2.2-litre engine will play a key role in reducing IUA's and Mazda Australia's exposure to emissions-related penalties under the New Vehicle Efficiency Standard (NVES). Given its higher outputs and improved efficiency, it's also likely to be more popular than the 1.9-litre engine, which made its local debut in the D-Max in 2022 before becoming available in the MU-X in 2024. We understand the 1.9-litre engine has attracted fewer than 100 sales annually in the D-Max, which was Australia's third most popular 4×4 ute in 2024 – behind only the Ford Ranger and Toyota HiLux – with more than 24,000 sales. Above: Thai-market MU-X 2.2. First revealed in November 2024, Isuzu's new 2.2-litre diesel was listed by IUA as one of a range of powertrains options it could employ to lower its fleet-average CO2 emissions. These include the battery-electric D-Max EV, which could top $100,000 based on UK pricing and is therefore expected to be a low-volume vehicle. At the other end of the scale, IUA is working on a hardcore Walkinshaw-developed Blade version of the MU-X, to join the D-Max Blade. Isuzu's new '2.2 Ddi Maxforce' engine (codenamed RZ4F) is based on and replaces the 1.9-litre RZ4E engine, which produces just 110kW of power and 350Nm of torque. Above: Thai-market D-Max 2.2. The new engine develops 120kW at 3600rpm and 400Nm over 1600-2400rpm, and is mated to an eight-speed automatic transmission (rather than a six-speed unit as per the 1.9- and 3.0-litre diesels), which Isuzu says brings improved performance and fuel economy. That's only 20kW and 50Nm less than the 140kW/450Nm '4J' 3.0-litre diesel that has long powered the D-Max and MU-X, and which will eventually be replaced by the new 2.2. A mild-hybrid (MHEV) version of the 1.9-litre, revealed earlier last year, will remain on sale in Thailand in a single rear-wheel drive pickup variant. This produces an identical 110kW and 350Nm to the regular 1.9-litre. It's unclear at this stage if the 2.2-litre (pictured above) will eventually gain a mild-hybrid system. While Isuzu hasn't published fuel consumption figures, it says fuel economy has been improved by up to 10 per cent over the outgoing 1.9-litre. According to Australian figures, D-Max variants with the 1.9-litre use between 6.7 and 7.0L/100km. The new 2.2-litre stacks up better against the entry-level four-cylinder turbo-diesels in the Ranger and HiLux. The base HiLux Workmate's 2.4-litre engine produces 110kW and 400Nm, while the Ranger's single-turbo 2.0-litre engine makes 125kW and 405Nm, and both of them are matched with a six-speed (rather than eight-speed) auto. MORE: Explore the Isuzu D-Max showroom MORE: Explore the Isuzu MU-X showroom Content originally sourced from: It's official: the Isuzu D-Max and MU-X will be available with the Japanese brand's new turbocharged 2.2-litre four-cylinder diesel engine from late September, as confirmed by a media launch invite we received from Isuzu Ute Australia (IUA) today. As in Thailand, where both vehicles are produced for Australia, CarExpert understands the larger and higher-output turbo-diesel will replace the unloved 1.9-litre oil-burner as the entry-level engine in IUA's two diesel-powered models. And we expect the new 2.2-litre engine, which is claimed to consume about 10 per cent less fuel than the 1.9-litre engine it replaces, will soon also power entry-level versions of the D-Max's twin, the Mazda BT-50. CarExpert can save you thousands on a new Ford Ranger. Click here to get a great deal. Above: Thai-market D-Max 2.2. While Isuzu's big-bore 3.0-litre turbo-diesel will continue to be the flagship engine for the popular D-Max ute and MU-X large SUV (and the BT-50 ute) lineups, the new 2.2-litre engine will play a key role in reducing IUA's and Mazda Australia's exposure to emissions-related penalties under the New Vehicle Efficiency Standard (NVES). Given its higher outputs and improved efficiency, it's also likely to be more popular than the 1.9-litre engine, which made its local debut in the D-Max in 2022 before becoming available in the MU-X in 2024. We understand the 1.9-litre engine has attracted fewer than 100 sales annually in the D-Max, which was Australia's third most popular 4×4 ute in 2024 – behind only the Ford Ranger and Toyota HiLux – with more than 24,000 sales. Above: Thai-market MU-X 2.2. First revealed in November 2024, Isuzu's new 2.2-litre diesel was listed by IUA as one of a range of powertrains options it could employ to lower its fleet-average CO2 emissions. These include the battery-electric D-Max EV, which could top $100,000 based on UK pricing and is therefore expected to be a low-volume vehicle. At the other end of the scale, IUA is working on a hardcore Walkinshaw-developed Blade version of the MU-X, to join the D-Max Blade. Isuzu's new '2.2 Ddi Maxforce' engine (codenamed RZ4F) is based on and replaces the 1.9-litre RZ4E engine, which produces just 110kW of power and 350Nm of torque. Above: Thai-market D-Max 2.2. The new engine develops 120kW at 3600rpm and 400Nm over 1600-2400rpm, and is mated to an eight-speed automatic transmission (rather than a six-speed unit as per the 1.9- and 3.0-litre diesels), which Isuzu says brings improved performance and fuel economy. That's only 20kW and 50Nm less than the 140kW/450Nm '4J' 3.0-litre diesel that has long powered the D-Max and MU-X, and which will eventually be replaced by the new 2.2. A mild-hybrid (MHEV) version of the 1.9-litre, revealed earlier last year, will remain on sale in Thailand in a single rear-wheel drive pickup variant. This produces an identical 110kW and 350Nm to the regular 1.9-litre. It's unclear at this stage if the 2.2-litre (pictured above) will eventually gain a mild-hybrid system. While Isuzu hasn't published fuel consumption figures, it says fuel economy has been improved by up to 10 per cent over the outgoing 1.9-litre. According to Australian figures, D-Max variants with the 1.9-litre use between 6.7 and 7.0L/100km. The new 2.2-litre stacks up better against the entry-level four-cylinder turbo-diesels in the Ranger and HiLux. The base HiLux Workmate's 2.4-litre engine produces 110kW and 400Nm, while the Ranger's single-turbo 2.0-litre engine makes 125kW and 405Nm, and both of them are matched with a six-speed (rather than eight-speed) auto. MORE: Explore the Isuzu D-Max showroom MORE: Explore the Isuzu MU-X showroom Content originally sourced from: It's official: the Isuzu D-Max and MU-X will be available with the Japanese brand's new turbocharged 2.2-litre four-cylinder diesel engine from late September, as confirmed by a media launch invite we received from Isuzu Ute Australia (IUA) today. As in Thailand, where both vehicles are produced for Australia, CarExpert understands the larger and higher-output turbo-diesel will replace the unloved 1.9-litre oil-burner as the entry-level engine in IUA's two diesel-powered models. And we expect the new 2.2-litre engine, which is claimed to consume about 10 per cent less fuel than the 1.9-litre engine it replaces, will soon also power entry-level versions of the D-Max's twin, the Mazda BT-50. CarExpert can save you thousands on a new Ford Ranger. Click here to get a great deal. Above: Thai-market D-Max 2.2. While Isuzu's big-bore 3.0-litre turbo-diesel will continue to be the flagship engine for the popular D-Max ute and MU-X large SUV (and the BT-50 ute) lineups, the new 2.2-litre engine will play a key role in reducing IUA's and Mazda Australia's exposure to emissions-related penalties under the New Vehicle Efficiency Standard (NVES). Given its higher outputs and improved efficiency, it's also likely to be more popular than the 1.9-litre engine, which made its local debut in the D-Max in 2022 before becoming available in the MU-X in 2024. We understand the 1.9-litre engine has attracted fewer than 100 sales annually in the D-Max, which was Australia's third most popular 4×4 ute in 2024 – behind only the Ford Ranger and Toyota HiLux – with more than 24,000 sales. Above: Thai-market MU-X 2.2. First revealed in November 2024, Isuzu's new 2.2-litre diesel was listed by IUA as one of a range of powertrains options it could employ to lower its fleet-average CO2 emissions. These include the battery-electric D-Max EV, which could top $100,000 based on UK pricing and is therefore expected to be a low-volume vehicle. At the other end of the scale, IUA is working on a hardcore Walkinshaw-developed Blade version of the MU-X, to join the D-Max Blade. Isuzu's new '2.2 Ddi Maxforce' engine (codenamed RZ4F) is based on and replaces the 1.9-litre RZ4E engine, which produces just 110kW of power and 350Nm of torque. Above: Thai-market D-Max 2.2. The new engine develops 120kW at 3600rpm and 400Nm over 1600-2400rpm, and is mated to an eight-speed automatic transmission (rather than a six-speed unit as per the 1.9- and 3.0-litre diesels), which Isuzu says brings improved performance and fuel economy. That's only 20kW and 50Nm less than the 140kW/450Nm '4J' 3.0-litre diesel that has long powered the D-Max and MU-X, and which will eventually be replaced by the new 2.2. A mild-hybrid (MHEV) version of the 1.9-litre, revealed earlier last year, will remain on sale in Thailand in a single rear-wheel drive pickup variant. This produces an identical 110kW and 350Nm to the regular 1.9-litre. It's unclear at this stage if the 2.2-litre (pictured above) will eventually gain a mild-hybrid system. While Isuzu hasn't published fuel consumption figures, it says fuel economy has been improved by up to 10 per cent over the outgoing 1.9-litre. According to Australian figures, D-Max variants with the 1.9-litre use between 6.7 and 7.0L/100km. The new 2.2-litre stacks up better against the entry-level four-cylinder turbo-diesels in the Ranger and HiLux. The base HiLux Workmate's 2.4-litre engine produces 110kW and 400Nm, while the Ranger's single-turbo 2.0-litre engine makes 125kW and 405Nm, and both of them are matched with a six-speed (rather than eight-speed) auto. MORE: Explore the Isuzu D-Max showroom MORE: Explore the Isuzu MU-X showroom Content originally sourced from:
